Environmental groups say a change of ownership at the controversial Cambo development will not alter the prospects for what they call a "doomed" field, following news that Ithaca Energy will acquire operator Siccar Point.
Firms won’t be rushing into deals or investment off the back of higher oil and gas prices – the boom may even be stalling such activity in the North Sea, according to top analysts.
The North Sea’s new class of operators could be poised to further strengthen their dominance in the basin with several major assets expected to hit the market.
Italian Minister of Foreign Affairs Luigi di Maio has visited Angola and Congo Kinshasa in order to secure new sources of gas.
Shell and Namcor have announced a light oil discovery at the Graff-1, offshore Namibia.
Eni has spudded the Mlima-1 exploration well, offshore Kenya, in the deepwaters of the Lamu Basin.
The decision by Shell not to invest in the Cambo project has been deemed a “huge blow” for the UK industry and the potential for emissions-busting technology in the West of Shetland.
As majors shift out of mature West African assets, new opportunities may attract large independents to enter the area.